QBE has partnered with Aurora to launch an integrated algorithmic underwriting system that operates entirely within the insurer’s existing governance, risk appetite and operating procedures.
Developed by QBE Ventures, the solution enables fully automated lead underwriting of complex specialty risks, a first in the industry.
The technology is now available in QBE’s UK Marine Yacht Protection & Indemnity (P&I) product, marking a major step forward in underwriting complex maritime risks.
QBE becomes the first major insurer to implement end-to-end algorithmic primary underwriting for complex specialist risks across its operations.
Brokers benefit from an end-to-end workflow, with complex risks processed in less than ten minutes from submission receipt and verification to underwriting, pricing, documentation and binding, compared to previous days.
This speeds up decision-making, ensures consistency and allows for immediate issuance of certificates, a key requirement for port clearance in the yacht P&I industry.
Key features of the new system include AI-driven unstructured broker submission processing, automated data validation, QBE underwriting, real-time application of pricing and tax standards, instant creation of dynamic quote files and bindable terms, instant certificate issuance, full audit trails with structured data capture, and real-time portfolio intelligence.
For the British Offshore Yachting P&I Club, this has resulted in document production being cut from around five hours to just seconds, complex quote-to-binding times from days to minutes, and a smoother, more predictable broker experience.
Certificates can be issued immediately so yacht owners can sail, while QBE retains full control over pricing, documentation, appetite and governance. The platform allows algorithmic products to be launched within months, professional portfolios can be scaled without additional staff, and brokers receive consistent real-time decisions.
James Orchard, CEO of QBE Ventures, commented: “This partnership demonstrates how strong collaboration can accelerate QBE’s meaningful innovation and quickly bring new capabilities to market. By working closely with Aurora, we are delivering a fully regulated, leading-edge algorithmic underwriting capability that operates directly within QBE’s systems, controls and requirements, something the industry has never seen before. Partnering with Yacht P&I is an important first step, and this approach positions QBE as digital trading and algorithmic underwriting continue to evolve.” Evolution in the market.”
Kevin Shallow, executive director of international markets at QBE, said: “Speed, accuracy and reliability are crucial when it comes to yacht P&I; our brokers and clients often need documentation immediately to keep ships sailing. What previously took days can now be completed in minutes, with greater consistency, clearer auditability and richer data behind every decision. This reflects QBE’s The strength of our culture of innovation and collaboration across our underwriting, operations and technology teams will significantly enhance our service offering to our broker partners and support the continued growth of the yachting portfolio.” “
Bijal Patel, co-founder of Aurora, added: “Over the past nine months, Aurora has worked closely with QBE Ventures to develop our Algo underwriting-as-a-service model, enabling insurers to adopt leading algorithmic underwriting today rather than five years from now. Embedding this capability directly into QBE’s operations puts both companies at the forefront of the market. QBE’s cross-functional collaboration has been outstanding in achieving this with true speed and precision. We thank them for their openness to innovation and collective efforts to enable QBE Yacht P&I, the first leading algorithm product, was successfully launched.”
The feature was created through a collaboration between QBE Ventures, QBE Underwriting and QBE’s cross-functional team, and in partnership with Aurora, which provides the algorithmic underwriting engine and operational framework supporting a fully managed dominant algorithmic system.
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